Emini Dow Jones through 22132 to reach 22157
|Daily Forecast - 14 September 2017
Bitcoin September contract
Bitcoin is likely to recover in the short term to offer longer term selling opportunities, with the negative head & shoulders pattern complete. We look for a test of first resistance at 4000/4040 & should struggle initially. Eventually we could continue higher to very important resistance at 4200/4300. A high for the day recovery is expected here. Try shorts with stops above 4500.
Longer term outlook is now negative but we have held important support at 3840/3780 so we are expecting a short term bounce. However a break below the 3 week low at 3650/3600 shows bears gaining more control & should trigger more stops sending prices towards 3500/3480 & 3410/00. Eventually we are likely to revisit 3340 & 3230/10, perhaps as far as strong support at 3150/30 for a buying opportunity.
Emini Dow Jones September contract
Emini Dow Jones through 22132 to reach 22157. A break higher is a buy signal targeting 22240/250, 22310/320 & 22365/375.
Below 22130 risks a slide to 22090/080 then support at 22060/050 but the best buying opportunity of the day is at 22000/21980. Longs need stops below 21920.
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